Capita takes £17.9m hit over Arch cru

Capita has taken a £17.9m hit in costs in its 2011 results following the collapse of the Arch cru fund range.

The costs represent Capita’s contribution towards the £54m compensation for Arch cru investors. In June 2011, the FSA announced that Capita Financial Managers, BNY Mellon Trust & Depository Ltd and HSBC Bank had agreed to contribute to a £54m fund, which will be used to make payments to the eligible investors in the CF Arch cru Funds.

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